Summary by Moomoo AI
Amer Sports, Inc. reported Q2 2024 revenue of $993.8 million, up 16% YoY. Technical Apparel segment led growth with a 34.4% increase. DTC channel revenue rose 40%, while wholesale grew 1.6%. Adjusted EBITDA increased to $81.4 million from $62.6 million in Q2 2023.Net loss narrowed to $3.7 million from $96.9 million last year. Gross margin improved to 55.5% from 53.3%. The company repaid its Senior Facilities Agreement and related party loans using proceeds from new credit facilities and its IPO.For H1 2024, revenue grew 14.1% to $2.18 billion, with Technical Apparel up 39.4%. Adjusted EBITDA rose to $262.9 million from $245.1 million. The company expects 2024 capital expenditures of approximately $310 million, focused on retail expansion, SAP system upgrades, and warehouse facilities.
